Irish households are now officially struggling to pay the bills and make ends meet as the economic crisis deepens and new Budget cuts come into play.
Over half of all Irish households are now finding it difficult to pay the weekly domestic bills.
And one in four Irish householders have admitted they have little or no money left after household expenses according to a new survey for the Credit Union movement.
The vast majority of those surveyed – 83 per cent of 1,000 respondents - fear that 2012 will be an even more difficult financial year than 2011.
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The Irish League of Credit Unions survey found that 70 per cent said that the amount they had left after paying essential bills has fallen in the last 12 months while almost 50 per cent of people are finding it difficult to save any money.
Recent increases in energy and fuel costs have had a detrimental effect on 85 per cent of people while eight per cent said it is ‘impossible’ to pay their bills each month.
A total of nine per cent said they were ‘likely’ to give up private health insurance in 2012 with 31 per cent saying they will cease private cover if there is a price increase. phenomenon.